Resolution Capital Ltd decreased its stake in Cousins Properties Incorporated (NYSE:CUZ – Free Report) by 85.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 442,437 shares of the real estate investment trust’s stock after selling 2,571,383 shares during the period. Cousins Properties accounts for about 0.2% of Resolution Capital Ltd’s holdings, making the stock its 28th biggest holding. Resolution Capital Ltd owned 0.27% of Cousins Properties worth $9,986,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in CUZ. Arrowstreet Capital Limited Partnership bought a new stake in Cousins Properties in the second quarter valued at approximately $902,000. EverSource Wealth Advisors LLC increased its position in Cousins Properties by 55.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,100 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 753 shares during the period. Marshall Wace LLP bought a new position in Cousins Properties during the 2nd quarter worth approximately $3,723,000. Federated Hermes Inc. raised its holdings in Cousins Properties by 40.8% during the 2nd quarter. Federated Hermes Inc. now owns 110,926 shares of the real estate investment trust’s stock worth $3,331,000 after purchasing an additional 32,162 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Cousins Properties by 8.6% in the 2nd quarter. California Public Employees Retirement System now owns 286,452 shares of the real estate investment trust’s stock worth $8,602,000 after purchasing an additional 22,741 shares during the period. 94.38% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Cousins Properties from $28.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Wall Street Zen raised shares of Cousins Properties from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Truist Financial boosted their target price on shares of Cousins Properties from $24.00 to $30.00 and gave the company a “hold” rating in a report on Friday, June 26th. Evercore reaffirmed an “outperform” rating and set a $34.00 price target on shares of Cousins Properties in a research report on Monday, July 6th. Finally, Weiss Ratings upgraded Cousins Properties from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 25th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.91.
Cousins Properties Price Performance
Cousins Properties stock opened at $31.74 on Wednesday. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of -1,057.78, a PEG ratio of 2.35 and a beta of 1.19. Cousins Properties Incorporated has a 52-week low of $21.03 and a 52-week high of $32.35. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.21 and a current ratio of 1.21. The stock’s 50 day moving average price is $29.28 and its two-hundred day moving average price is $26.06.
Cousins Properties (NYSE:CUZ – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.21). The company had revenue of $263.11 million during the quarter, compared to the consensus estimate of $256.77 million. Cousins Properties had a negative net margin of 0.52% and a negative return on equity of 0.11%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 EPS. On average, equities analysts predict that Cousins Properties Incorporated will post 2.95 earnings per share for the current year.
Cousins Properties Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Monday, July 6th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Monday, July 6th. Cousins Properties’s payout ratio is -4,266.67%.
About Cousins Properties
Cousins Properties Incorporated (NYSE: CUZ) is a publicly traded real estate investment trust (REIT) specializing in the development, acquisition and management of high-quality office and mixed-use properties. Headquartered in Atlanta, the company focuses on urban infill and suburban markets across the Sun Belt, with a strong presence in metropolitan areas such as Atlanta, Austin, Charlotte, Nashville, Orlando and Tampa. Its core activities encompass full-service property leasing, asset management and construction oversight, serving a diverse mix of corporate and institutional tenants.
Founded in 1958 as a privately held real estate concern, Cousins Properties completed its initial public offering in 1992.
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